ALBANY, NY (NEWS10) – Siena College and St. Bonaventure University have released a tandem survey that sheds light on online sports betting in America. The survey looked at people with sports betting accounts, gambling addictions, losses and more.
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Survey results found that 39% of Americans bet on sporting events and 19% have an online sports betting account. 93% of participants say they do this because it's fun and exciting, 85% say they do this because they can make money, 80% say they signed up because of a promotion, and 71% say they did so because the money was free.
The survey found that 33% of bettors are men aged 18 to 34 and 15% are women in the same age group. About 15% are 50 years or older. 63% have more than one online sports betting account and 59% report betting at least once a week, with 24% placing three or more bets per week.
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“Although sports betting is popular among sports fans, particularly young men, significant concerns remain, with two-thirds fearing it will create fans with gambling problems,” said Aaron Chimbel, dean of the Jandoli School of Communication at St. Bonaventure University. “In addition, nearly half of all Americans – including more than 40% of avid fans – believe online betting will corrupt organized sports, and the vast majority of Americans support stricter regulations to protect consumers. However, nearly half of the country (49%) supports legalizing online sports betting in all 50 states, while only 29% believe legalizing online sports betting is illegal.”
61% of survey respondents believe the federal government should “aggressively regulate” online sports betting to protect customers from compulsive gambling, while 32% believe online sports betting is doing a “good” job of monitoring and responding to the dangers of compulsive gambling afford. 35% disagree. Conversely, 67% of those who have an account believe sports betting is doing a good job.
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As Sunday's big game approaches, the American Gaming Association said a record 50.4 million adults bet a total of $16 billion on the game last year.
“With 75% of Americans saying they have seen ads for online sports betting, it is not surprising that one in five have an account,” said Don Levy, director of the Siena College Research Institute. “Betters say it's fun, and a majority of all Americans (48-40%) agree that online sports betting is a great form of entertainment that allows fans to gamble responsibly. But almost 40% of bettors have felt embarrassed about their gambling or bet more than they should, and one in five have lost money they needed or lied to someone about their bets. Over half of respondents have pursued a bet, meaning they have increased their stake in the hope of getting money back after a loss, and 22% have heard someone raise concerns about their use of online sports betting. Yet only 9% of bettors have called a gambling problem hotline or sought help.”
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